JSW Steel

By Neha Arora

NEW DELHI, Oct 7 (Reuters) - India's steel ministry is unlikely to push for any new measures to curb cheap imports in the near term, turning down a request from domestic steelmakers, according to a government source with direct knowledge of the matter.

India, the world's second-biggest crude steel producer, was a net importer of finished steel in April-August, shipping in ​3.5 million metric tons of the alloy, up 29.5% from a year ago. China accounted ​for 31.8% of imports, making it the top exporter of finished steel to India in the period.

India launched an anti-dumping probe into hot-rolled steel imports from China, Japan and Russia in June.

New Delhi had last December imposed import tariffs, locally known as a safeguard duty, on some grades for three years.

There has been a surge in imports despite the measure. Last week, the federal steel secretary said imports were a challenge.

A steel analyst said there was a petition from a steel mill to raise the safeguard duty above 20% from the current 11.5%.

But the government source said no hike was planned at present because steel prices were already high. The source spoke on condition of anonymity because the import policy is confidential.

India's steel ministry did not respond to a request for comment.

In recent weeks, mills have lifted prices on the back of rising prices of coking coal, a key raw material, and a strong demand revival after the monsoon rains.

Demand from infrastructure and automobiles has been rising, industry executives said.

India's automobile sales rose 31.82% year-on-year in September, driven by strong demand for two-wheelers and passenger vehicles, an auto dealers' body said on Tuesday.

Higher imports remain the key risk to Indian steel producers' margins if competitive pressure resurges, Fitch Ratings said in a report on September 1.

(Reporting by Neha Arora; Editing by Jamie Freed)

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By Sarita Chaganti Singh and Sethuraman N R

NEW DELHI, Sept 26 (Reuters) - India has ordered more than 100 captive coal-fired power plants to operate at maximum capacity from October 1 through year-end to meet what it expects will be a rise in electricity demand.

• The federal power ministry's order, invoked under emergency provisions of the Electricity Act, applies to plants with installed capacity of at least 50 megawatts

• The aim is to meet an "expected rise in electricity demand in the coming months," showed the order dated September 25 and seen by Reuters

• Nearly 40% of coal-fired plants are operating with critically low fuel stock due to a surge in power demand as the El Niño climate phenomenon raises temperatures more than usual

• The plants primarily serve industrial facilities such as aluminium smelters, steel manufacturers, cement factories and oil refineries

• The power ministry has directed generators to sell surplus electricity through power exchanges

• The order covers 112 plants belonging to companies including Vedanta VDAN.NS, Tata Steel TISC.NS, Hindalco Industries HALC.NS, JSW Steel JSTL.NS, UltraTech Cement ULTC.NS, Reliance Industries RELI.NS, Indian Oil IOC.NS, Bharat Aluminium BHLNO.UL, Hindustan Zinc HZNC.NS and Nayara Energy

• The ministry has ordered plants to report weekly to the Central Electricity Authority detailing generation, captive consumption, power sales, available capacity and coal stocks

• Separately, the ministry has extended an earlier emergency order requiring Tata Power's TTPW.NS imported coal-fired plant in Mundra, Gujarat, to operate at full capacity until December 31, citing the demand situation

• Section 11 of the Electricity Act allows the government, under extraordinary circumstances, to direct generators to operate power stations in accordance with its instructions

(Reporting by Sethuraman NR and Sarita Chaganti Singh; Editing by Christopher Cushing)

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Sept 24 (Reuters) - India's JSW One filed papers to raise over 30 billion Indian rupees ($312.65 million) in its IPO, it said in a filing late on Thursday.

($1 = 95.9550 Indian rupees)

(Reporting by Kanjyik Ghosh in Barcelona; Editing by Vijay Kishore)

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By Dharamraj Dhutia and Khushi Malhotra

MUMBAI, Sept 21 (Reuters) - Two JSW Group firms will raise a total of around 28.5 billion rupees ($298 million) through shorter-tenor bonds in the October-December quarter, a couple of bankers said on Monday.

JSW Energy JSWE.NS plans to raise around 15 billion rupees through up to five-year bonds, while JSW Steel JSTL.NS could raise around 13.5 billion rupees via three-year or four-year debt, the bankers said, requesting anonymity as they are not authorised to speak to the media.

The companies could tap the market in October if rates are favourable, according to the bankers.

The firms did not respond to emails seeking comment.

Bonds of JSW Energy are rated "AA" by India Ratings. The firm has around 25 billion rupees of outstanding bonds.

The company, which has thermal, hydro and renewable power operations, had raised 8 billion rupees through three-year and five-year bonds at 8.75% and 8.80% in March 2025.

AA-rated instruments are considered to be safe in terms of timely servicing their financial obligations.

JSW Steel JSTL.NS has a rating of "AA+" by ICRA and India Ratings with outstanding bonds at over 61 billion rupees.

The firm had last tapped the bond market over two years ago, when it raised 22.5 billion rupees through five-year and seven-year papers at 8.35% and 8.43%, respectively.

($1 = 95.7700 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Mrigank Dhaniwala)

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By Neha Arora

NEW DELHI, Aug 19 (Reuters) - Indian steel mills are facing mounting pressure on margins as higher coking coal prices, driven by supply disruptions in Australia and China and the Iran war, raise steelmaking costs, executives and analysts said.

India, the world's biggest crude steel producer after China, meets 95% of its coking coal needs through imports, with at least half shipped from Australia. Coking coal accounts for nearly 40% of steel production costs.

Squeezed margins could impede investment and delay capacity expansion as Indian steelmakers step up spending to meet buoyant domestic demand driven by infrastructure and strong economic growth.

Premium hard coking coal prices jumped 25% from last year to average $236 per metric ton freight on board (FOB) Australia in the first seven months of 2026, said Banmeet Khurmi, lead, metallurgical coal and coke market service, at consultancy CRU in Sydney.

"Prices have been higher this year due to supply disruptions in Australia, slower-than-expected ramp-up at new mines, price support from the conflict in the Middle East and, more recently, a large accident in Shanxi, China," Khurmi said.

Costs are likely to remain high in the second half of the year, partly due to the loss of supply following the Shanxi coal mine disaster, said Freddie Brooks, commodities analyst at BMI, a unit of Fitch Solutions.

For blast furnace-based steelmakers, every $10 a ton increase in coking coal prices adds approximately $7 to $9 per metric ton to steelmaking costs, said an executive at a large steel mill, who was not authorised to speak to the media.

Higher coking coal prices have squeezed margins, three other executives at leading steelmakers said, with little headroom to raise steel prices, given competition from cheap Chinese steel.

Shipments from China have increased despite import tariffs on some grades.

IMPORT DEMAND GROWS

Coking coal imports are expected to rise by between 2 million and 3 million tons in 2026-27 from 64 million tons a year earlier, commodities consultancy BigMint said.

With the higher demand for imports, comes higher transport costs, partly due to disruptions from the U.S.-Iran war.

"Trade flows have tightened with high demand from India and higher diesel, freight and insurance costs," said Hui Ting Sim, vice president at Moody's Ratings.

Australia is expected to continue meeting at least half of India's coking coal needs, although imports from Russia, Mozambique and the United States are also set to rise.

Discounts on Russian coal, which accounted for 24% of India's coking coal imports in recent years, have diminished over the past two years, Khurmi said.

"Over the longer term, we expect Mozambique to overtake the United States and Russia as the second largest exporter of coking coal to India after Australia," Brooks said, adding that Indian companies such as state-run Steel Authority of India SAIL.NS and JSW Steel JSTL.NS were turning to Mozambique for supplies.

India has been seeking to diversify its coking coal imports and gain access to Mongolia although experts say this remains difficult because of logistical challenges.

(Reporting by Neha Arora; Editing by Mayank Bhardwaj and Sonali Paul)

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Aug 10 (Reuters) - JSW Steel Limited JSTL.NS:

• REPORTS JULY 2026 CONSOLIDATED CRUDE STEEL PRODUCTION AT 2.4 MILLION TONNES, UP 3% YOY

• CAPACITY UTILISATION FOR INDIAN OPERATIONS IN JULY 2026 AT 87%

Source text:

Further company coverage: JSTL.NS

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By Neha Arora and Jatindra Dash

NEW DELHI, Aug 4 (Reuters) - India's top iron ore producing state of Odisha has warned steelmakers and miners of strict action over alleged grade manipulation and misdeclaration, according to documents reviewed by Reuters and three sources, a crackdown that analysts say could tighten domestic iron ore supplies.

India, the world's second-largest crude steel producer after China, is expected to produce 340 million to 345 million metric tons of iron ore, the key raw material used in steelmaking, in 2026-27, up from about 316 million tons a year earlier, commodities consultancy BigMint said.

Any disruption to supplies from resource-rich Odisha could scupper those production targets.

The warning follows inspections that "revealed a consistent grade manipulation by the lessees," which include major steel producers, resulting in a "substantial loss" of state revenues, according to a July 6 government document reviewed by Reuters.

The companies named in the July 6 letter included JSW Steel JSTL.NS, Tata Steel TISC.NS, state-run Steel Authority of India (SAIL) SAIL.NS, Jindal Steel JINT.NS and ArcelorMittal Nippon Steel India.

A Tata Steel spokesperson denied any discrepancies, saying it pays royalties as per prescribed norms and that most of its iron ore dispatches are in the highest royalty grade.

JSW declined to comment. SAIL and Jindal Steel did not respond to Reuters' emails seeking comment. Odisha's Directorate of Mines and Geology also did not respond to requests for comment.

Government officials met steel and mining associations and company executives last month to discuss the findings, according to July 13 meeting minutes and a source familiar with the matter.

"Any deliberate grade manipulation, misdeclaration or suppression of mineral value affecting government revenue shall be viewed very seriously and strictly dealt with," the meeting minutes showed.

Odisha's steel and mines department directed lessees to revise mining plans and seek approval from the Indian Bureau of Mines where actual ore grades differ from approved grades, according to the minutes.

Analysts say stricter inspections are already affecting lower grade ore availability.

Offers for lower grade ore have become limited in the merchant market over the past month because of intensified inspections by Odisha authorities, BigMint said.

"Since Odisha is the largest producer of iron ore in the country, if the issue escalates, it might impact the overall availability of iron ore in the country," said B.K. Bhatia, a mining expert and former director general of the Federation of Indian Mineral Industries.

Industry representatives disputed the state's allegations.

"Industry has raised concerns that the grades extracted are as per the geology and that is not under anyone's control," one industry representative said, declining to be identified because they were not authorised to speak to the media.

(Reporting by Neha Arora in New Delhi and Jatindra Dash in Bhubaneswar; Additional reporting by Arpan Chaturvedi in New Delhi; Editing by Mayank Bhardwaj and Saad Sayeed)

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July 24 (Reuters) - Indian steelmaker Jindal Steel JINT.NS reported a drop in first-quarter profit on Friday as elevated coking coal costs outweighed a recovery in domestic steel prices, while the company appointed Vidya Rattan Sharma as managing director.

Sharma previously served as MD of the company from 2019 to 2022. He will serve for two years starting Friday, according to the company.

Here are details from the company's earnings report:

• The New Delhi-based company's consolidated net profit slumped 43.5% year-over-year to 8.45 billion rupees ($87.51 million).

• Jindal Steel's cost of materials consumed climbed 43.7%, pushing up its overall expenses by 38.7% to 142.96 billion rupees.

• Total revenue from operations rose about 26% to 154.82 billion rupees, helped by higher sales volumes and an increase in steel prices.

• The company's consolidated steel sales rose 17.4% to 2.23 million tons.

• Analysts at Elara Capital said domestic prices of hot-rolled coil, which are flat steel products, rose 12-13% year-on-year, supported by a weaker rupee and higher Chinese export offers.

• Coking coal prices rose by $17 per ton in the June quarter, according to an executive of larger rival and India's top steelmaker JSW Steel.

• Meanwhile, Sandeep Modi replaced Sunil Agrawal as chief financial officer.

• Last week, JSW Steel JSTL.NS reported a quarterly profit beat on firmer steel prices and steady volumes.

($1 = 96.5625 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru; Editing by Harikrishnan Nair)

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By Neha Arora

NEW DELHI, July 21 (Reuters) - Indian steelmakers are pivoting to the domestic market to offset weaker exports as key markets Europe and Britain tighten imports, but competition from cheap Chinese steel at home is blunting that strategy, company executives and analysts said.

India, the world's largest crude steel producer after China, ships roughly two-thirds of its steel to Europe, and the executives expect exports to the European Union and Britain to fall by as much as 40% this fiscal year after both markets tightened import rules.

The European Union unveiled quotas on June 30 to limit duty-free steel imports after introducing carbon charges in January on imports of steel and other emissions-intensive goods under its Carbon Border Adjustment Mechanism.

Britain also tightened tariff-free steel imports from July 1, although New Delhi says 85% of India's exports to the country remain protected under their free trade agreement.

India shipped 6.6 million metric tons of finished steel in the fiscal year ended March 2026. Exports fell to 0.5 million tons in May, well below the average of the previous six months.

"With the UK, EU, US and several other markets tightening import quotas, and deploying tariffs and safeguard mechanisms, companies will have to place greater emphasis on markets where long-term demand visibility is more certain," Abhyuday Jindal, managing director of Jindal Stainless, told Reuters.

Chinese steel is priced $52-$63 per ton below domestic grades, making it harder for Indian mills to absorb output diverted from export markets, the executives and analysts said.

The government has launched an anti-dumping investigation into hot-rolled steel from China, Japan and Russia.

"The rise in low-priced and substandard imports, particularly from China or those of Chinese origin, is creating an uneven competitive environment for domestic manufacturers," Jindal said.

A senior government official said India was the only major market where steel consumption remained strong.

Mills could seek anti-dumping measures to curb cheap imports, especially from China, said the official, who declined to be named because of the sensitivity of the matter.

Rapid economic growth and government infrastructure spending have prompted leading steel producers to continue expanding capacity. India aims to raise crude steel capacity to 400 million tons by 2035-36 from the current output of about 168 million tons.

"Tata Steel and JSW Steel are focusing the majority of their investments in India, which they see as a growth market," said Hui Ting Sim, vice-president and senior analyst at Moody's Ratings in Singapore. But she added that profit margins of Indian steelmakers were unlikely to improve unless there was a substantial hike in import duties.

Most of the new steelmaking capacity being added in India is based on expectations of domestic demand rather than exports, said Ravi Sodah, executive vice-president at Elara Capital in Mumbai.

Finished steel consumption has risen 55% over the past five years, outpacing the 42% increase in production, according to commodities consultancy BigMint.

Indian mills are also expected to target markets in East Asia and the Middle East to offset part of the decline in European shipments. In the Middle East they face growing competition from Chinese producers as well as local manufacturers, said Shankhadeep Mukherjee, principal analyst at London-based CRU Group.

(Reporting by Neha Arora; Editing by Mayank Bhardwaj and Raju Gopalakrishnan)

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July 17 (Reuters) - JSW Steel JSTL.NS, India's top steelmaker, reported a bigger-than-expected rise in first-quarter profit on Friday, as firmer domestic steel prices and resilient volumes outweighed pressure from higher coking coal costs.

The Mumbai-based firm's consolidated net profit more than doubled to 46.51 billion rupees ($482.79 million) in the quarter ended June 30.

Analysts had expected, on average, 31.11 billion rupees, per data compiled by LSEG.

($1 = 96.3350 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru; Editing by Janane Venkatraman)

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JSW Steel formally began development work on its integrated steel project in the Rayalaseema region of Andhra Pradesh, with total planned investment of up to ₹16,350 crore. The project, to be executed by subsidiary JSW Rayalaseema Steel, will build capacity in two phases, starting with a ₹4,500 crore 1 MTPA plant using electric arc furnace technology. The second phase, with additional investment of ₹11,850 crore, will lift capacity to 2 MTPA, making it one of the largest industrial investments in the region. The ceremony on July 3, 2026 was attended by Andhra Pradesh Chief Minister N. Chandrababu Naidu and JSW Group Chairman Sajjan Jindal. JSW Steel said the plant will produce low-carbon structural steel using scrap and direct reduced iron, aligning with the company's decarbonisation roadmap. Once fully operational, the facility is expected to strengthen Andhra Pradesh's manufacturing base and JSW's overall steelmaking capacity, which currently stands at 37.9 MTPA including its JV.

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** JSW Steel JSTL.NS shares rise 1.4% to 1,315.90 rupees

** Stock on track for fifth straight session of gains

** UBS initiates coverage of iron and steel co with "neutral", TP of 1,400 rupees apiece

** Notes strong growth, capacity expansion, rising volumes, and supportive industry conditions, but growth largely priced-in

** Expects domestic steel demand to slow down slightly, but still healthy, as government capex normalises

** 19 out of 33 brokerages rate JSTL "buy" or higher, median PT of 1,390.5 rupees — LSEG-compiled data

** YTD, stock up 12.60%

(Reporting by Saikeerthi in Bengaluru)

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June 9 (Reuters) - JSW Steel Ltd JSTL.NS:

• JSW STEEL - REPORTS CONSOLIDATED CRUDE STEEL PRODUCTION OF 2.3 MILLION TONNES FOR MAY 2026, UP 15% YOY

Source text: ID:nBSE42WC9s

Further company coverage: JSTL.NS

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May 25 (Reuters) - JSW Steel Ltd JSTL.NS:

• JSW STEEL - CO, BHARATIA AND CARBON ICELAND SIGN STRATEGIC MOU FOR GREEN METHANOL PROJECT IN INDIA

• JSW STEEL - PROPOSED 300 KTPA PROJECT TO CONVERT JSW STEEL CO₂ EMISSIONS INTO EMETHANOL

Source text: ID:nBSE3tpQmY

Further company coverage: JSTL.NS

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By Neha Arora

NEW DELHI, May 22 (Reuters) - India's Ministry of Steel has asked the Ministry of Finance to withdraw anti-dumping tariffs on low-ash metallurgical coke imports, citing inadequate domestic supplies and higher prices, according to a government document reviewed by Reuters.

India, the world's second-largest crude steel producer, imposed a provisional anti-dumping duty on low-ash metallurgical coke - known as met coke - imports in December for six months.

India primarily imports met coke from China, Indonesia, Poland, Japan and Switzerland. Import volumes are down sharply since the curbs were imposed, industry experts say.

"Concerns have emerged regarding the limited availability of met coke in the domestic market and a substantial increase in domestic prices following the imposition of ADD, which has imposed a significant financial burden on steel manufacturers," the Steel Ministry said in a May 18 office memorandum, referring to anti-dumping duties with an acronym.

The ministries did not respond to emails from Reuters seeking comment.

The Steel Ministry highlighted the difficulties faced by state-run Rashtriya Ispat Nigam Ltd (RINL) RAST.NS, saying the company had been unable to procure adequate quantities of met coke at reasonable prices from the domestic market, resulting in a 20% rise in input costs.

RINL, which is undergoing a government-backed financial revival, has seen its operational viability and competitiveness adversely affected by inadequate supplies of met coke, the Steel Ministry memorandum said.

RINL did not respond to a Reuters email seeking comment.

The Steel Ministry also flagged concerns for small and medium-sized steelmakers, which rely heavily on merchant suppliers for met coke.

"The domestic market has not been able to ensure adequate availability of met coke at competitive rates to meet the requirements of the steel industry," it said.

(Reporting by Neha Arora; Editing by Mayank Bhardwaj and Tom Hogue)

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May 18 (Reuters) - JSW Steel Ltd JSTL.NS:

• GQG PARTNERS EMERGING MARKETS EQUITY FUND BUYS 15 MILLION JSW STEEL SHARES VIA BLOCK DEAL ON NSE- EXCHANGE DATA

• SBI MUTUAL FUND BUYS 10 MILLION JSW STEEL SHARES VIA BLOCK DEAL ON NSE - EXCHANGE DATA

• JSW ENERGY SELLS 25 MILLION JSW STEEL SHARES VIA BLOCK DEAL ON NSE - EXCHANGE DATA

Source text: [ID:]

Further company coverage: JSTL.NS

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** JSW Steel JSTL.NS shares rise 1.3% to 1,314 rupees, hitting an all-time high after paring gains to be down 0.1%

** Co posts twofold rise in quarterly profit

** Revenue from operations climbs 14.2% to 511.8 billion rupees

** JSTL expects domestic steel demand to grow at 7-9% in FY27

** BOB Capital Markets raises TP on stock to 1,348 rupees from 1,307 rupees; says outlook remains positive, supported by

improving demand and pricing environment

** Emkay Global raises TP on stock to 1,400 rupees from 1,300 rupees; says expect JSTL earnings to strengthen over FY27-28E, supported by a favorable pricing environment aided by safeguard duty and 9% volume growth in FY27

** Eighteen of 31 brokerages rate the stock "buy" or higher; their median PT is 1,300 rupees

** YTD, stock up 11.3% vs 9.3% decline in Nifty 50 Index .NSEI

(Reporting by Abhinav Parmar in Bengaluru)

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May 14 (Reuters) - JSW Steel Ltd JSTL.NS:

• JSW STEEL Q4 CONSOL NET PROFIT 163.7 BILLION RUPEES

• JSW STEEL Q4 CONSOL TOTAL REV FROM OPS 511.8 BLN RUPEES; IBES EST. 496.86 BLN RUPEES

• JSW STEEL - DIVIDEND 7.1 RUPEES PER SHARE

• JSW STEEL - SEES FY27 CONSOL CAPEX SPEND 220-240 BLN RUPEES

• JSW STEEL - CAPEX SPEND DURING Q4 AT 46.12 BLN RUPEES

• JSW STEEL - SEES FY27 TOTAL CONSOL SALEABLE STEEL SALES AT 28.60 MT

• JSW STEEL - SEES FY27 TOTAL CONSOL CRUDE STEEL PRODUCTION AT 29.75 MT

Further company coverage: JSTL.NS

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May 8 (Reuters) - JSW Steel Ltd JSTL.NS:

• JSW STEEL - BOARD TO CONSIDER RAISING LONG-TERM FUNDS VIA QIP AND REDEEMABLE NON-CONVERTIBLE DEBENTURES

Source text: ID:nBSE62jwzd

Further company coverage: JSTL.NS

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Adds details from SAIL's non-public filing, context paragraphs 5-10

By Aditya Kalra

NEW DELHI, April 24 (Reuters) - An Indian court has put an antitrust investigation into state-run Steel Authority of India SAIL.NS on hold after the company challenged the Indian watchdog for procedural lapses, according to court records and the company's legal filings.

In the most high-profile antitrust case involving India's steel sector, an investigation by the Competition Commission of India found 28 firms colluded on steel prices, Reuters exclusively reported in January. These included Tata Steel TISC.NS, JSW Steel JSTL.NS and state-run SAIL and RINL.

Online Madras High Court records show the judge in an April 21 hearing put the investigation into SAIL on hold. The ruling and SAIL's arguments in court are being reported for the first time by Reuters.

SAIL did not respond to a request for comment.

SAIL's non-public filing reviewed by Reuters on Friday showed it told the Madras High Court that it was "exonerated" in the first investigation report drafted by investigators in January 2024, but senior CCI officials "wrongfully" invoked Indian law provisions to conduct a further investigation.

The watchdog's investigation team then drafted a supplementary report last year which found wrongdoing by SAIL, but used the same material that was earlier cited in exonerating the company, the company argued.

"Principles of natural justice mandate that any adverse or prejudicial action, including the re-opening of an investigation after exoneration, must necessarily be preceded by notice," SAIL said in the filing.

The CCI did not respond to Reuters queries. The case will next be heard on June 10.

The CCI investigation had found that Tata Steel, JSW Steel, SAIL and RINL disclosed their pricing plans to rivals and coordinated production cuts to reduce supplies, Reuters has reported.

The watchdog had reviewed dozens of WhatsApp chats, including from groups named "Friends of Steel", "Tycoons" and "Steel Live Market".

(Editing by Elaine Hardcastle)

April 20 (Reuters) - JSW Steel Ltd JSTL.NS:

• JSW STEEL - CO, POSCO FORM JOINT VENTURE TO SET UP 6 MTPA INTEGRATED STEEL PLANT IN INDIA

Source text: ID:nBSE67sDdj

Further company coverage: JSTL.NS

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April 17 (Reuters) - JSW Steel Ltd JSTL.NS:

• JSW STEEL - SAFFRON RESOURCES TO BECOME 50:50 JOINT VENTURE BETWEEN JSW STEEL AND POSCO GROUP

• JSW STEEL - JOINT VENTURE TO SET UP 6 MTPA STEEL PLANT IN ODISHA

• JSW STEEL - POSCO GROUP TO SUBSCRIBE TO SAFFRON SHARES FOR 5.09 BILLION RUPEES

Source text: ID:nBSE16yvLM

Further company coverage: JSTL.NS

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April 9 (Reuters) - JSW Steel Ltd JSTL.NS:

• COMBINED CRUDE STEEL PRODUCTION OF 30.14 MILLION TONNES FOR FY26, 8% GROWTH YOY

• Q4 FY26 CONSOLIDATED PRODUCTION DOWN 3% Y/Y

Source text: ID:nnAZN4SPYEZ

Further company coverage: JSTL.NS

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March 30 (Reuters) - JSW Steel Ltd JSTL.NS:

• JSW STEEL - JFE INVESTS 78.75 BILLION RUPEES FOR 25% STAKE IN JSW KALINGA

Source text: ID:nBSE6xtB5r

Further company coverage: JSTL.NS

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Corrects iron ore exports data in paragraph 7 to show lower vs last year, not higher

By Neha Arora

NEW DELHI, March 24 (Reuters) - India's imports of iron ore, a key raw material in steelmaking, are set to rise to a seven-year high in the fiscal year ending on March 31, driven by a shortage of high-grade ore and demand from JSW Steel JSTL.NS, analysts and industry executives said.

Overall imports are likely to reach 12 million to 14 million metric tons in 2025-26, more than doubling from a year earlier, analysts and trade officials said.

JSW Steel, India's biggest steelmaker by capacity, was a key driver of iron ore imports for its mills in the western state of Maharashtra and the southern state of Karnataka, said Lalit Ladkat, a senior analyst at London-based consultancy CRU.

A cargo of BHP's BHP.AX Jimblebar Fines iron ore is heading to India in a rare sale, driven by discounts on the product that was banned for sale in China, Reuters reported last week.

The bulk of India's iron ore imports in the fiscal year originated from Brazil and Oman, which together accounted for about 70% of total shipments, Ladkat said.

Iron ore output in India, the world's second-largest crude steel producer, is expected to reach 305 million tons in the 2025–26 fiscal year, up from 289 million metric tons a year earlier, according to commodities consultancy BigMint.

But exports of iron ore are expected to reach 29 million metric tons in 2025-26, down by 2.5 million metric tons from a year earlier, with 85% of shipments going to China, Ladkat said.

India mainly exports low-grade iron ore that is generally not used by steel mills in the country, mining officials said.

In the fiscal year that begins on April 1, India's iron ore output is expected to rise as mines ramp up production, although imports may continue depending on grade requirements and plant-level supply dynamics, said Sumit Jhunjhunwala, vice president at ICRA Ratings.

IRON ORE PELLET IMPORTS SET TO DROP

India, which has been importing cheaper iron ore pellets - processed or value-added products - from Iran since last year, is likely to see volumes decline due to the conflict in the Middle East, analysts said.

"Indian pellet imports from Iran could decline amid heightened geopolitical tensions and associated trade uncertainties, while ample domestic pellet availability is likely to constrain import demand," BigMint said.

From April to February, India imported 1.88 million metric tons of iron ore pellets, up six times from a year earlier.

(Reporting by Neha Arora; editing by Mayank Bhardwaj and Thomas Derpinghaus)

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By Neha Arora

NEW DELHI, March 19 (Reuters) - India's JSW Steel Coated Products, a unit of JSW Steel JSTL.NS, has sought government intervention to secure supplies of liquefied natural gas and propane to prevent output disruptions amid shortages caused by the Iran war, according to a letter reviewed by Reuters.

"Any disruption in our production will have an adverse impact on our downstream customers and may lead to supply deficit in these sectors," the company said in its letter to the federal steel secretary on March 10.

JSW Steel Coated Products is India's largest manufacturer of coated steel products, or value-added steel goods, according to the company, and caters to sectors including food packaging, engineering and infrastructure.

JSW declined to comment.

Mounting gas shortages have already disrupted operations at some steel plants of India's top metals conglomerate JSW Group, with one unit facing a potential shutdown in the coming days, Reuters reported earlier this week.

India's small steel producers have warned of production halts due to gas shortages, Reuters reported earlier.

India has invoked emergency measures, prioritising natural gas for essential sectors after LNG shipments through the Strait of Hormuz were disrupted by the ongoing conflict in the Middle East, constraining domestic supply.

(Reporting by Neha Arora; editing by Mayank Bhardwaj, editing by Andrei Khalip)

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